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However, it does not mean you are home-free when you acquired venture capitalist funding. Furthermore, not grabbing the attention of venture capitalists does not tell that your business is not valuable or unfortunate. Although venture capitalists smell money, they may not grasp every industry, and they may not understand your business better than you understand. You need to create an excellent good and make people purchase it. If you can accomplish this, you will earn money anyways. Remaining concentrated on your good is not equal to getting blind. You must be unlocked and truthful about the opportunities in your environment, similar to Stacy Madison and her boyfriend at that time, Mark Andrus. They had a successful sandwich truck in Boston, distributing baked pita chips to anyone in the line. People started to get crazy about the chips and the pair decided to switch from sandwiches to chips in 1998. Stacy’s revenue by 2006 was $65 million and later on, PepsiCo acquired it. Leaving the primary idea requires modesty. Modesty is a key during a crisis too, as we will talk about it in the following chapter. Chapter 5 - Flexibility in front of a crisis means forgetting about your honor. Nobody is resistant to disaster, specifically people who are chief of successful firms. Raising achievement and sales amounts is about risk-taking. Even though you are extremely cautious, something displeasing is destined to happen. Furthermore, no matter if this is a problem because of you or occurred naturally, as the founder, you will need to handle the fallout. Tylenol’s profit value in 1981 was approximately 20 percent of the main firm, Johnson & Johnson. These two brands were blooming. However, somebody in Chicago in 1982 poisoned seven individuals with cyanide with drug tampering of Tylenol bottles. This was a complete catastrophe for Johnson & Johnson. Sales of Tylenol extremely dropped. However, the things that occurred afterward were masterpieces in disaster response which are still taught in business schools. In the 1980s, there was no incidence of a product recall of products other than cars in the US. Both the US Food and Drug Administration and the Federal Bureau of Investigation opposed the opinion of the Chief Executive Officer of Johnson & Johnson, James Burke. However, Burke modestly acknowledged his responsibility to the customers who relied on Johnson & Johnson brand for their health. He recognized that their credence was everything. Therefore, he determined to recall every Tylenol capsule from all over the US - which makes more than 31 million bottles. Furthermore, they re-released their product in better packaging which is tamper-proof. The complete recall process cost more than $100 million. However, Burke’s determined and sheer move was invaluable. In two months, the stock price of Johnson & Johnson was recovered to the level it was before the disaster. Tylenol had re-conquered almost all the analgesic market by the end of 1983. Good management can rescue a business when disaster hits. However, what if managers are in disorder? Recall Eric Ryan and Adam Lowry we talked about in chapter 2? The pair with the same office, feeding themselves with noodles every day? While reading if you likened them to married couples, Eric also said that. After they released a new line of merchandise in 2008 that did not become successful, the pair fought with each other. Eric stated that they were at each other's throats, for several years! The relationship was in huge danger. However, they were more dedicated to their bigger aim than they were to their small fight. Eventually, with tolerance and tenderness, they overcame the challenging stage and traded Method for an amount not made public. Chapter 6 - The businesses that put mission as the priority become successful easier. The most frightening piece of entrepreneurship is not the thing that comes to mind first. Not failure. Being successful. This may seem nonsense. However, if you think, you will see that always working for something gives you a clear vision to work for. You perceive every day as a struggle for remaining alive, therefore, you do not consider a lot about the longer term. However, at the time you become successful, persistence and legacy become the things you will concentrate on. to build a time-defying company, you need to go back to the impulse that made you begin in the first place. Achievement in business is not just profit. It is also the aim. However, not making a profit should not make you give up on your aim. The companies that put mission priority thrive both in weak times and successful times. Since their founders and workers are driven by things other than profit, and therefore less tend to give up when things become harsh. Jenn Hyman had lots of points to give up on her startup digital designer rental service, Rent the Runway. For example, the jingoism and sexism she underwent when presenting her business idea to male venture capitalists were excruciating and depressive. One time, an employee from a prestigious venture capitalist company held her hand and said “This is so adorable. You are going to get to wear such pretty dresses. This must be so fun for you.”. If anyone is outraged, will be perfectly justified. However, Jenn Hyman did not allow herself to be disturbed by the fury. She was not in front of these venture capitalists to become wealthy. She was there because of her faith in her firm’s aim - making all women feel excellent. Her mission was her shield against the things she encountered; sexism, pessimism, frustration, and ambiguity. Eventually, in 2019, her mission allowed her firm Rent the Runway to obtain a valuation of $1 billion. It is easier to make decisions as well when you follow your mission and values. When selections and opportunities begin flying in the air, noticing for what you are there assists you in recalling what you are in and why you are in it. As lots of achieved entrepreneurs have ascertained, you will be powerful when you just be yourself. Your success comes at the pace you concentrate on your mission. How I Built This: The Unexpected Paths to Success from the World’s Most Inspiring Entrepreneurs by Guy Raz Book Review The trip to entrepreneurship is much more challenging and lucrative than it is. Launching your business is not only an occupation. It is an all-exploiter course that can transform your life and its purpose. If you thrive, you will not only be wealthy. You will have discovered your purpose.